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Chicago City Wire

Friday, June 6, 2025

Former state university employee Scott paid in $92K to pension fund, could collect $1.34M in retirement

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Former state university employee Charlene Scott, who retired in January 2019, saved $92,252 toward a pension over 15 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Scott would collect as much as $1.34 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Scott received $28,200 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Scott will have already received $117,978 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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